Location: Lawrence County, PA | Metro: Lawrence County, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 16132, located in the Lawrence County, PA HUD Metro FMR Area, reveals several key points that are crucial for landlords and small-portfolio investors.
The first question is whether the rent math works. The Fair Market Rent (FMR) for the area as set by HUD for fiscal year 2026 is $1,000. However, the current market rent, according to Census ACS data, stands at $1,025. This indicates that the rent set by HUD is slightly below the market rate, creating a scenario where landlords might need to adjust their expectations or find ways to reduce costs to align with the FMR guidelines. The discrepancy of $25 between the FMR and market rent suggests a minor but notable challenge in maintaining profitability while adhering to HUD standards.
Regarding the affordability of acquisitions, the median home value in ZIP 16132 is $106,712. This figure is relatively low compared to other areas in Pennsylvania, making it an attractive option for investors looking to enter the market with a lower initial capital investment. The absence of data on days on market (DOM) and the percentage of homes that have been discounted indicates that the local real estate market may be stable, with fewer properties experiencing prolonged periods on the market or significant price reductions. This stability can be advantageous for investors aiming to acquire properties without the risk of overpaying or facing lengthy wait times.
Tenant demand is another critical factor. With a population of 327 individuals and a renter share of 26.3%, there is a moderate demand for rental properties. While the number of potential renters is limited, the percentage indicates a steady flow of tenants seeking housing within the area. This could support the viability of rental investments, particularly if landlords can offer competitive pricing and amenities.
In summary, ZIP 16132 presents a mixed picture for real estate investors. The slight misalignment between HUD's FMR and market rents requires careful financial planning. The low median home value makes acquisitions feasible for those with modest investment budgets. Tenant demand is present but limited due to the small population size. Landlords should focus on efficient cost management and understanding the local rental market dynamics to succeed in this area.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.